Brixmor Property Group (NYSE:BRX) Downgraded by Scotiabank to “Sector Perform”

Scotiabank cut shares of Brixmor Property Group (NYSE:BRX) from an outperform rating to a sector perform rating in a research report report published on Friday morning, The Fly reports. The firm currently has $19.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $20.00.

BRX has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Brixmor Property Group from a hold rating to a buy rating and set a $21.00 target price for the company in a research report on Wednesday. ValuEngine cut shares of Brixmor Property Group from a hold rating to a sell rating in a research report on Tuesday, July 2nd. BMO Capital Markets reiterated a hold rating and issued a $17.00 target price on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Stifel Nicolaus increased their target price on shares of Brixmor Property Group from $17.50 to $18.00 and gave the company a hold rating in a research report on Tuesday, April 30th. Finally, Compass Point initiated coverage on shares of Brixmor Property Group in a research report on Thursday. They issued a neutral rating and a $19.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $19.00.

Shares of NYSE BRX traded up $0.11 during mid-day trading on Friday, reaching $18.51. The company’s stock had a trading volume of 6,802,500 shares, compared to its average volume of 2,820,508. The stock has a 50-day moving average of $18.37 and a two-hundred day moving average of $17.99. The stock has a market capitalization of $5.51 billion, a P/E ratio of 10.01, a P/E/G ratio of 2.15 and a beta of 0.74. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.47 and a current ratio of 0.47. Brixmor Property Group has a 1-year low of $14.11 and a 1-year high of $19.20.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.24). The business had revenue of $291.00 million during the quarter, compared to analyst estimates of $286.99 million. Brixmor Property Group had a net margin of 30.07% and a return on equity of 12.66%. Brixmor Property Group’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Analysts predict that Brixmor Property Group will post 1.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, October 4th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date is Thursday, October 3rd. Brixmor Property Group’s dividend payout ratio is currently 60.54%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG raised its holdings in Brixmor Property Group by 34.0% in the second quarter. UBS Group AG now owns 841,445 shares of the real estate investment trust’s stock valued at $15,045,000 after acquiring an additional 213,425 shares in the last quarter. MAI Capital Management acquired a new stake in Brixmor Property Group in the second quarter valued at approximately $180,000. First Manhattan Co. raised its holdings in Brixmor Property Group by 11.5% in the second quarter. First Manhattan Co. now owns 2,292,405 shares of the real estate investment trust’s stock valued at $40,988,000 after acquiring an additional 235,700 shares in the last quarter. Phocas Financial Corp. acquired a new stake in Brixmor Property Group in the second quarter valued at approximately $5,287,000. Finally, California Public Employees Retirement System raised its holdings in Brixmor Property Group by 21.0% in the second quarter. California Public Employees Retirement System now owns 698,068 shares of the real estate investment trust’s stock valued at $12,481,000 after acquiring an additional 120,972 shares in the last quarter. 98.23% of the stock is owned by hedge funds and other institutional investors.

Brixmor Property Group Company Profile

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 425 retail centers comprise approximately 74 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.

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